Mohammed Al Amoudi Net Worth : $10.6 Billion
An Ethiopian Sheikh and Businessman
Source of Wealth
Date of Birth
July 21, 1946
Mohammed Al Amoudi’s Total Net Worth
Mohammed Al Amoudi is a Saudi Arabian/ Ethiopian businessman. With a net worth of $10.6 billion, he secures the 63rd position in the Forbes’ list of the richest person in the world. He earned his huge net worth through his business ventures in construction, oil refineries and real estate. He put his earned money in expanding his oil and mining business in Sweden, Ethiopia, and Morocco. His Midroc Gold Mine, located at Lega Dembi, produces approximately 4,500 kg of gold and silver.
Al Amoudi manages all his businesses through the ownership of two main operating and conglomerates holding companies, namely “MIDROC – Mohammed International Development Research and Organization Companies” and “Corral Petroleum Holdings”. His business portfolio comprises multiple ventures, such as oil refineries, mining, construction, real estate, hotels, finance, operations and maintenance, and hospitals. Besides this, he is also engaged in exploration and production of energy.
Al Amoudi has huge investments in several hotels, cement industries and gold mines. He acquired OK Petroleum, the largest integrated energy corporation of Sweden, in 1994, by spending $750 million, and changed its name to Preem Petroleum. He holds 70% ownership in National Oil Ethiopia and 69% ownership in Addis Tyre, sole tire manufacturer of Ethiopia. The Sheikh also invested a large amount for agricultural development in Ethiopia. To finance the construction of Ethiopia’s largest steel mill, Toussa Steel Factory, he signed a contract of $600 million with Danieli SpA in October 2012. He has recently invested an amount of $275 million in order to finance a factory for manufacturing “Gazal-1”, the first car of Saudi Arabia.
Properties: Private Fortune
Mohammed Al Amoudi owns several lavish residential properties in Saudi Arabia, Surrey and London. He also owns 2,295 hectares of land. Out of this, 1,010 hectares is covered with shade trees and coffee, while remaining with natural vegetation.
Al Amoudi is an avid philanthropist and supports various organizations working towards health and sports causes at places, like Saudi Arabia, Africa, Europe and the United States. At King Abdulaziz University in Saudi Arabia, he funded the building of breast cancer research center. He sponsored various sports tournaments, like Africa’s oldest football cup competition, CECAFA Cup, and also supported Ethiopian Premier League Club St. George. For the construction of road and stadium in Mek’ele, the Sheikh donated 100 million Ethiopian birrs.